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Mar 17, 2013 7:00am PDT
. you see, a vast majority of these couples are getting divorced so they can avoid a new chinese tax. beijing recently decided to impose a 20% capital gains fee on sales of second homes. so, the theory goes, if you have two homes and you get divorced, you can register each home under separate names. then, if you sell one of those homes, you escape the new tax and then, i guess, you can get remared. the bizarre exploitation of this loophole tells a larger story. at an individual level, it shows the importance of housing as an investment in china. but at the macro level, the story shows how beijing's new leaders are are struggling is to deal with what some are calling a property bubble. on the one hand, prices are soaring in the big cities. in shanghai, for example, developers say property prices have risen 40% in one year. this is because demand has stayed well ahead of supply, as more and more people migrate to big cities. on the other hand, second and third-tier towns have a different problem. here, supply exceeds demand. too many houses. look at these pictures of ghost towns in chi
Search Results 0 to 1 of about 2 (some duplicates have been removed)